Nano Nuclear Energy (NASDAQ:NNE) Trading Up 6.5% - Should You Buy?

Nano Nuclear Energy Inc. (NASDAQ:NNE - Get Free Report)'s stock price rose 6.5% on Tuesday . The stock traded as high as $26.10 and last traded at $26.87. Approximately 630,340 shares traded hands during trading, a decline of 84% from the average daily volume of 3,874,860 shares. The stock had previously closed at $25.23.

Analyst Upgrades and Downgrades

Separately, HC Wainwright restated a "buy" rating and set a $50.00 price objective on shares of Nano Nuclear Energy in a research report on Wednesday, January 29th.

Nano Nuclear Energy Stock Performance

The firm has a market cap of $1.05 billion and a PE ratio of -69.07. The stock has a 50 day simple moving average of $30.59 and a two-hundred day simple moving average of $23.48.

Nano Nuclear Energy (NASDAQ:NNE - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.09. Equities research analysts forecast that Nano Nuclear Energy Inc. will post -0.92 earnings per share for the current year.

Institutional Trading of Nano Nuclear Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Central Asset Investments & Management Holdings HK Ltd acquired a new stake in Nano Nuclear Energy during the 4th quarter worth approximately $774,000. Newbridge Financial Services Group Inc. purchased a new stake in shares of Nano Nuclear Energy in the 4th quarter valued at approximately $200,000. Canal Insurance CO purchased a new stake in shares of Nano Nuclear Energy during the 4th quarter worth $622,000. State Street Corp acquired a new position in shares of Nano Nuclear Energy during the third quarter worth $718,000. Finally, Powell Investment Advisors LLC purchased a new position in Nano Nuclear Energy in the fourth quarter valued at $602,000.

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Nano Nuclear Energy Company Profile

NANO Nuclear Energy, Inc is a microreactor and nuclear technology company, which provides supply energy services. Its products in technical development are ZEUS, a solid core battery reactor, and ODIN, a low-pressure coolant reactor. The company is founded by Jiang Yu in February, 2022 and is headquartered in New York, NY.